Orion announces sales increase

Net sales for pharmaceutical group Orion rose by four per cent in January to September of this year, according to new statistics.

The Finnish-listed company specialises in products and research relating to the central nervous system, cardiology and critical care, and urological and oncological therapies.

It said in a report that net sales for quarters one to three totalled 530.1 million euros (420.5 million pounds), which is four per cent more than the comparative period in 2007.

Profit before taxes was 152 million euros, down from 154.3 million the year before, while equity ratio dropped over ten per cent to stand at 65.5 per cent for the first nine months of 2008.

Chief executive officer of Orion, Timo Lappalainen, cited planned US-based expenditure and infringement lawsuits for reduced operating profit, which was 11.3 per cent down on last year.

“At present we do not expect the current financial crisis to substantially affect the company’s earnings in the last part of 2008,” he added.

Part of Orion’s operations include the Speciality Products department, which comprises nearly 300 hospital medicines, self-care and prescription drugs. These include Burana (ibuprofen), which it states is Finland’s best-selling painkiller.